Final appraisal for banks selling eurobonds

Next week, the government could discuss the draft decision to authorise international banks that will handle the issue of Romanian eurobonds worth at least 500 million euros, says Stefan Nanu, general manager of the Treasury Department within the Ministry of Economy and Finance. The eurobonds will be launched on the market at the beginning of next year, with a ten-year maturity. They are designed to act as a buffer fund for possible high budget liquidity requirements, amid pension increases. “We will make a final selection and present it to the minister imminently. I hope we will be able to send the decision to the Government for approval next week,” Stefan Nanu told ZF. No fewer than 11 banks have made the so-called short list of lead managers, out of a total of 27, which sent their offers to broker the transaction in October. Nanu said “all 11 financial institutions which made it to the final stage of the race updated their offers by the deadline set for November 9, to improve the conditions offered to the Ministry of Finance.